Anyone who owns a fur coat can appreciate how valuable it is. When you buy natural fur, you will likely spend a decent amount of money on it. But when you understand your fur coat is an investment, the cost is easier to swallow and you’ll invest more in protecting it. That’s where getting a fur coat appraisal enters the picture. Just like with jewelry or other valuable items, you should protect your fur coat if it gets lost or damaged. Getting an appraisal is an important step and here are some of the facts surrounding it.
Your Insurance Company Will Require An Appraisal
If you want to take out an insurance policy on your real fur coat, the insurance company will likely require an appraisal. They won’t take your word for how much it’s worth and they’ll need to see proof via a professional appraisal. Insurance companies aren’t concerned with how much you spent on the real fur coat. Rather, they want to know its actual value. So if something happens to your fur coat, they will replace it for the value it appraised at.
You Should Get Your Fur Coat Appraised Regularly
Remember, your fur coat is an investment that can hold value for many years. Sometimes the value will decrease slightly, but sometimes it can increase if it’s cared for properly. In this regard, you should consider getting a professional appraisal once every couple of years to ensure it’s covered for the correct amount. If you don’t and your real fur coat is lost, stolen, or damaged, then it might not be properly covered.
Caring For Your Fur Coat Can Hold Its Value
When you get your fur coat appraised every couple of years, one thing that can help the value remain high is to take care of it. At Morris Kaye Furs in Dallas, we can help you clean and store your real fur coat so it’s always in the best shape possible. By properly maintaining it, you can expect your fur coat to hold its value for many years. Daily care means ensuring it doesn’t get placed in your closet dirty or drying it out if it gets wet. Long-term care means storing it properly in a climate-controlled facility with plenty of ventilation to keep the fur fresh.
Fair Market Value Is Not Always The Same As The Appraised Value
When you’re looking into getting your real fur coat appraised, you might hear about the fair market value. The fair market value is what an individual would consider paying for it, but it’s not necessarily the appraised value. And when it comes to protecting your fur coat with an insurance policy, insurance companies aren’t concerned with the fair market value. Sometimes people will be willing to buy your fur coat for higher than its appraised value, which is great for you. But when it comes to protecting your investment, it’s important to remember that insurance companies only care about the appraised value.
Professional Furriers Can Provide Accurate Appraisals
When you’re ready to get your real fur coat appraised, be sure to take it to a reputable and trustworthy furrier. You’ll appreciate the accuracy of the appraised value and many insurance companies might require an appraisal from a professional specializing in furs. Since your fur coat is an investment you want to protect as much as possible, working with reputable professionals is always ideal and beneficial in the long run.
Morris Kaye Furs in Dallas is here to help ensure you protect your real fur investment as much as possible. From the moment you walk into our store, we will guide you along the process of buying the perfect fur, informing you on how to care for it, and how to protect its value in the long term. Major investments are worth being protected at a high level and your furs should be considered major investments. If you have any questions about your current fur coat or need guidance in buying a new fur coat, feel free to contact us at any time.
